McColl’s Retail Group saw a slight decline in like-for-like sales for the third quarter of the year.
Like-for-like sales for the 13 weeks from 26 May to 24 August 2014 declined by 0.5% compared to the same period last year however total group sales grew by 4.3% during the period. Like-for-like sales for the year to date were up 1.2%.
Chief executive officer James Lancaster said the figures were in line with expectations. “Following on from our positive half year results announced last month, we have made good progress in the third quarter, against a strong comparison period in 2013, and we have continued to expand our convenience store estate,” he said. “Whilst the sector remains competitive, trading figures for the important summer quarter have stood up well and the convenience market fundamentals are very positive.”
In line with its plans for the quarter, McColl’s acquired 10 new Premium convenience sites and converted 16 newsagents to Food and Wine stores.
This brings the total number of Premium acquisitions to 33 and 36 Food and Wine conversions for the year to date, leaving the group on track to hit its target of 1,000 convenience stores by the end of 2016.